MMA i the Olympics would make quite a lot of sense due to the reason that it is the modern sport that is closest to the ancient olympic sport pankration. The problem seems to be that it's still not really accepted as a sport in many countries.

I believe that if MMA became an Olympic sport, the impact would be very big in countries where other martial arts currently are big, but where MMA still is pretty unknown. Those countries could possibly catch up pretty fast, making it more exciting.